NEWARK, Del, Sept. 29, 2022 (GLOBE NEWSWIRE) -- The global automotive washer system market is expected to register a robust CAGR of 5.2% between 2022 and 2032. The global market reached a valuation of US$ 22.3 Bn in 2021 and is predicted to touch US$ 23.5 Bn in 2022. The global automotive washer system market is anticipated to be totaled US$ 39.1 Bn by 2032.
Owing to the rapid expansion of the automotive industry, there is a significant surge in the overall automotive washer system market around the globe. The automotive washer system market incorporates around 4% to 7% of its first parent market, which is an automotive parts and accessories market.
The global automotive washer system market showed stagnant growth during the historical period from 2014 to 2021 by registering a CAGR of 3.1%. However, owing to the increasing production and sales of vehicles, the overall automotive washer system market is expected to broaden its spheres by growing at a pace of 5.2% CAGR between 2022 and 2032.
On the basis of region, North America is anticipated to show its dominance in the global automotive washer system market in terms of revenue in 2022 and is expected to surge throughout the forecast period.
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Several factors are responsible for the surge in the global market such as an increase in vehicle production and sales, strong presence of key manufacturers, growing popularity of premium automobiles, increasing research activity, and rising investments in product development provide the appealing potential for the automotive washer system market in the region.
Key Takeaways
- The electrically powered rotary pump that sprays water or cleaning fluid at high pressure to clean the vehicle's glass of the headlight and on the camera is a part of the vehicle safety system. Owing to the excessive use of such products in automotive production in developing countries and the adoption of headlamps and camera washer systems in premium vehicles are ongoing trends in the automotive industry.
- Steady growth is witnessed in the demand for high-end and luxury vehicles in developing economies such as China, India, and Japan. These vehicles are stuffed with a headlamp and camera washer system. Furthermore, the surging replacement of the headlamp washer system in these types of vehicles is boosting the market growth.
- Due to the proliferation of online shopping platforms, component manufacturers are increasingly collaborating with e-commerce businesses to introduce their products online. Consumers along with their pattern of online shopping are going to have a huge impact on the marketing strategy of casted automotive component manufacturers. The customer feedback and their reviews will help the manufacturers in formulating astute strategies for targeting customers.
- On the basis of components, the wiper motor segment accounts for more than 45.0% of the global automotive washer system market and is likely to continue its dominance during the forecast period. In addition to that, rising production and sales of vehicles across the globe are other factors driving the automotive washer system market.
- A significant surge in the automotive industry combined with rising demand for advanced safety features is expected to bide well for the global automotive washer system market over the projection period.
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Key Companies Profiled
- Robert Bosch GmbH
- Denso Corporation
- Valeo SA
- Continental AG
- HELLA KGaA Hueck & Co.
- Ningbo Joyson Electronic Corp
- Mitsuba Corporation
- Mergon Group
- Trico Products Corporation
- Kautex Textron GmbH & Co. KG.
Key Segments Covered in Automotive Washer System Market Analysis
By Technology:
- Electrical
- Mechanical
By Sales Channel:
- OEM
- Aftermarket
By Component:
- Nozzles
- Reservoirs
- Hose & Connectors
- Pumps
- Windshield Wipers
- Wiper Motor
By Vehicle Type:
- Passenger Cars
- LCV
- HCV
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More Insights into the Automotive Washer System Market
Germany is expected to witness lucrative growth opportunities in the global automotive washer system market by accounting for around 6.0% of the market share in 2022. This estimation is further expected to surge throughout the forecast period owing to the flourishing automotive sector.
As per FMI analysis, Japan is expected to account for around 8.2% share of the global automotive washer system market in 2022 and it is likely to grow at a steady pace during the assessment period.
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
4. Key Success Factors
5. Global Automotive Washer System Market Demand Analysis 2014–2021 and Forecast, 2022-2032
5.1. Historical Market Volume (Units) Analysis, 2014–2021
5.2. Current and Future Market Volume (Units) Projections, 2022-2032
5.3. Y-o-Y Growth Trend Analysis
Explore FMI’s Extensive Ongoing Coverage on Automotive Domain
Automotive Windshield Washer System Market Size: Future Market Insights (FMI) has forecasted the automotive windshield washer system market to grow with a year on year growth of 5.7% in 2022 reaching a value of about US$ 19 Bn by 2022 end.
Europe Automotive Night Vision System Market Value: According to FMI, the Europe Automotive Night Vision System Market is estimated to be valued at US$ 151.7 Mn in 2022 and is projected to increase at a CAGR of 14.8% in the forecast period from 2022 to 2032.
Automotive Turbochargers Market Overview: As per Future Market Insights (FMI) analysis, the automotive turbochargers market revenue totaled US$ 9.6 Bn in 2021, leading to steady expansion at 8.8% CAGR between 2021 and 2031.
Automotive Wiring Harness Market Trends: The automotive wiring harness market is expected to grow at a considerable CAGR of 7.9% through 2032. The automotive wiring harness market is expected to hit a valuation of US$ 110.78 billion by 2032.
Automotive Active Safety System Market Share: Automotive active safety system market is gradually witnessing uptake in recent past due to growing concerns towards road safety. Automotive safety systems are turning out to be gaining lot of attention from automakers as well as customers.
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